2022- 2023 List of Domestic Systemically Important Insurers (D-SIIs)
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a press note on the list of Domestic Systemically Important Insurers (D-SIIs) for 2022-2023. This press note was issued on 31st March, 2023.
Payment of Distribution Fees to Motor Insurance Service Provider
The IRDAI has now clarified that “The distribution fees payable to MISP shall be as per Board approved policy for payment of commission of the insurer.”
Registration of two Life Insurers
Presently, the total number of life insurers operating in India have gone up to 25. This marks the addition of a total three new insurers in the financial year 2022-23. Moreover, another 20 applications are currently in pipeline at various stages of registration in life, general and reinsurance segments.
IRDAI invites Sandbox Applications and constitutes an Expert Committee
The desirous applicants can file the application to be considered under Regulatory Sandbox by e-mail to IRDAI at reg-sandbox@irdai.gov.in
IRDAI modifies its “Use and File” Procedure for Products
This modification seeks to enable dynamism in marketing insurance products. It also seeks to generate speed to market insurance products.
Foreign Trade Policy 2023
Prime Minister Mega Integrated Textile Region and Apparel Parks (PM MITRA) scheme has been added as an additional scheme eligible to claim benefits under CSP(Common Service Provider) Scheme of Export Promotion capital Goods Scheme(EPCG).
Comprehensive FAQs on SEBI (PIT) Regulations, 2015
The new comprehensive FAQs on SEBI (PIT) Regulations, 2015 provide valuable insights into the regulatory framework surrounding insider trading in India. By addressing common queries and introducing key changes, SEBI aims to enhance transparency and promote fair practices in the securities market. Market participants and stakeholders should familiarize themselves with these regulations to ensure compliance and contribute to the integrity of the Indian capital markets.
Extended compliance period for large corporates who have issued debt securities to the extent of 25% of their incremental borrowings in a financial year
It has been decided that the contiguous block of two years over which large corporates need to meet the mandatory requirement of raising minimum 25% of their incremental borrowings in a financial year through issuance of debt securities will be extended to a contiguous block of three years (from the present requirement of two years) reckoned from FY 2021-22 onwards.
